Today, the internet giant updated it's favicon into this. Personally, I like the previous one. This new one looks like an 8 with a microsoft window at the background. The old capital G icon is way too better than this new one.
The new favicon was designed by André Resende of the University of Campinas in Brazil.
...design that inspired our new favicon. His placement of a white 'g' on a color-blocked background was highly recognizable and attractive, while seeming to capture the essence of Google.